Banking Awareness Practice Set
1. With effect from March 31, 2005, an asset would be classified as _____________ if it has remained in the substandard category for a period of 12 months.
Answer : Doubtful Assets
2. What is the financial limit Under MUDRA’s Shishu scheme?
Answer : Rs. 50,000
3. What is the financial limit Under MUDRA’s Kishor scheme?
Answer : Rs. 50,000 to Rs. 5 lakh
4. Which among the following Incentives and facilities offered to the SEZs is not correct
Answer : 100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for 10 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years.
5. ___________ is a specifically delineated duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs.
Answer : SEZs
6. IBA was set up in ________ with 22 members to discuss issues of common interests.
Answer : 1946
7. What is the effort of IBA?
Answer : Promote sound and progressive banking principles and practices.
8. Central Government has notified in the Official Gazette ___________ CPI inflation as the target for the period from August 5, 2016 to March 31, 2021 with the upper tolerance limit of 6 per cent and the lower tolerance limit of 2 percent.
Answer : 4 percent
9. What is the full form of CPI?
Answer : Consumer Price Index
10. What is the focus & Priorities of IBA?
Answer : The Government of India on policy related issues